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Rent vs. sell: Are you ready to be a landlord?

With rental rates skyrocketing, many homeowners may be asking themselves: "Should I rent my home instead of selling it?" 9NEWS at 7 a.m. 05/02/14.

AnneMarie Harper, KUSA 9:48 a.m. MDT May 2, 2014

RICHMOND, CA - JUNE 15: A "for rent" sign is posted in front of a house on June 15, 2012 in Richmond, California. According to a report by Harvard University's Joint Center for Housing Studies, the tepid real estate market could see a turnaround with the price of rental properties surging and vacancies dropping from 10.6 percent in 2009 to 9.5 percent last year, the lowest level since 2002. (Photo by Justin Sullivan/Getty Images)(Photo: Justin Sullivan Getty Images)